Wakefit Innovations Strengthens IPO Momentum as It Mobilises ₹580 Crore Through Anchor Book
Bengaluru-based home and furnishings brand Wakefit Innovations has opened its much-awaited public market journey on a strong note, raising ₹580 crore via its anchor book on December 5. The fundraising comes just a day before the launch of its ₹1,289-crore initial public offering (IPO), reflecting significant institutional appetite for the mattress and home décor company founded by Ankit Garg and Chaitanya Ramalingegowda.
The company has positioned itself as one of India’s fastest-growing D2C home solutions brands, and the robust anchor book response signals investor confidence as it prepares to enter Dalal Street.
Wakefit Innovations IPO to Open on December 8 With ₹1,289-Crore Public Issue
Wakefit’s ₹1,289 crore IPO is a combination of a fresh issue worth ₹377.2 crore and an offer-for-sale (OFS) of 4.67 crore shares valuing ₹911.7 crore. The IPO is set to open on December 8 and close on December 10, with a price band of ₹185–195 per share.
The participation of marquee domestic and global institutions indicates growing enthusiasm for consumer-focused brands with strong offline and online distribution capabilities.
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Anchor Book Draws 33 Institutional Investors Including Top Mutual Funds
As part of the anchor allocation, Wakefit finalised the allotment of 2.97 crore equity shares at the upper price band of ₹195 per share. Notably, nine domestic mutual funds—including HDFC Mutual Fund, Axis MF, Nippon India, Mirae Asset, Tata MF, HSBC MF, Edelweiss, and Mahindra Manulife—secured 1.61 crore shares, amounting to ₹315 crore.
Alongside domestic funds, several global investors such as Prudential Hong Kong, Amundi Funds, Steadview Capital, and leading Indian institutions including HDFC Life Insurance, 360 ONE, and Bajaj Life Insurance participated in the anchor book.
The strong showing from both foreign and domestic investors reinforces Wakefit’s brand presence, financial performance, and expansion strategy.
Promoters and Key Investors Offloading Shares in the Offer-for-Sale
In the OFS component, several existing investors—including Peak XV Partners, Redwood Trust, Verlinvest, SAI Global India Fund, and Paramark KB Fund—will offload part of their holdings.
Among institutional shareholders:
Peak XV Partners holds the largest stake at 22.47%
Verlinvest owns 9.79%
Investcorp controls around 9.9%
The OFS allows early investors and promoters to partially monetise their stakes while offering public investors an entry point into one of India’s scale-driven home furnishing businesses.
Wakefit Plans Aggressive Store Expansion With IPO Proceeds
The company plans to deploy the proceeds from the fresh issue to accelerate its omnichannel retail strategy. Wakefit will allocate:
₹30.8 crore to establish 117 new COCO–Regular Stores
₹161.4 crore towards lease, sub-lease rent, and license fees for existing stores
₹15.4 crore for purchasing new equipment and machinery
₹108.4 crore for marketing and advertising to strengthen brand visibility
Remaining funds for general corporate purposes
Wakefit has rapidly expanded its store presence, scaling from 23 COCO stores in FY23 to 125 stores by September 2025. The company has also widened its reach through 1,504 multi-brand outlets (MBOs) since April 2022.
The investment into physical infrastructure underscores the brand’s ambition to evolve from a D2C disruptor into a nationwide home solutions powerhouse.
Strong Backing Reflects Investor Confidence in India’s Premium Home Furnishing Market
Wakefit’s positioning in a high-growth home and lifestyle segment has made it a preferred investment bet among private equity funds, and now, public market investors. Its combination of:
A robust product mix
Scalable supply chain
Strong customer loyalty
Aggressive offline expansion
…has contributed to its rising valuation and IPO interest.
The anchor allocation response suggests market participants are optimistic about the company’s ability to capture greater wallet share in the home improvement and furnishings category—an industry benefiting from rising urbanisation and premiumisation trends.
Axis Capital, IIFL Capital Services, and Nomura Lead Wakefit IPO Management
The IPO is being managed by Axis Capital, IIFL Capital Services, and Nomura Financial Advisory and Securities (India) as book-running lead managers (BRLMs). Their involvement reflects the scale of interest in Wakefit’s equity story and ensures broad institutional participation during the three-day bidding window.
Wakefit Innovations Prepares for Strong Market Debut as Investor Interest Peaks
As Wakefit Innovations prepares to open its IPO subscription on December 8, the company enters the capital market with strong institutional support and a clear expansion roadmap. With ₹580 crore already secured from anchor investors and a well-defined utilisation plan for the funds, Wakefit aims to accelerate its growth trajectory and strengthen its national presence.
For investors seeking exposure to India’s expanding home and lifestyle sector, the Wakefit IPO offers a compelling narrative built on brand strength, operational scale, and strategic retail expansion.
